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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Hank who wrote (7488)	9/4/2000 10:51:01 AM
From: Dale Baker	Read Replies (1) \| Respond to of 10293

Hank, that litany of doom and gloom has been repeated almost daily since I joined SI in early 1997. Many who believed it then are trying to figure out why they missed out on the runup, and why shorting all the time isn't making them much money instead. Granted, shorting weak dot.com's has been a good business this year. But most of those stocks are down to under-$5 shells by now. The Internet generates a tremendous amount of revenue. Eventually the strongest companies will capture those revenues in a viable business model. Most of the rest will die off or be bought by the bigger fish. This is a process of betting on possible survivors. If you really believe the economy and the market are going to hell in a handbasket, then by all means don't get anywhere near the game. But don't complain if some of these stocks double by next year and your macro call was wrong. I still have a lot in Internet infrastructure and less in a couple of service companies like CNET and MSGI. I also have 22% of my portfolio in energy stocks in case you are right about the oil price. It's a tricky year. Absolute calls long or short have not proven correct so far.